Bank of America Backs Down On New Fees

By

Shayndi Raice And

Robin Sidel

Nov. 30, 2012 9:00 p.m. ET

Bank of America Corp. has shelved plans for new fees that could have hit at least 10 million customers by the end of this year, skirting a potential replay of a 2011 uproar over consumer-banking charges.

The decision to hold off on new checking-account fees at least until late next year comes amid a sweeping review of the bank's retail-banking business, said people familiar with the bank's plans.